Carreker
Corporation Press Release - August
25, 2004
Carreker Integrates SWIFT Message
Formats into its Anti-Money Laundering
Software
Product offers Carreker customers
improved money laundering detection
capabilities
DALLAS, TEXAS (August 25,
2004) — Carreker Corporation
(Nasdaq: CANI), a leading provider
of technology and consulting solutions
for the financial industry, announced
today that it has joined the SWIFT
Partner framework as a Registered
Partner. SWIFT is an industry-owned
co-operative that supplies standardized
financial messaging services and
interface software to 7,600 financial
institutions in 200 countries. As
a SWIFT Registered Partner Carreker
will integrate SWIFT’s messaging
standards into its Anti-Money Laundering
(AML) solutions.
SWIFT provides more than 360 standard
message types to its members to use
in transmitting information about
financial transactions (e.g., communicating
payment instructions, information
about interbank settlements and related
transaction data). Carreker’s
CORE™ (Carreker Online Risk
Expert) AML Filter and CORE Fraud
Manager AML solutions will be able
to review SWIFT message information
relevant to money laundering. Users
of Carreker’s AML solutions
will have the ability to screen for
suspicious activity that could potentially
be related to money laundering or
terrorist financing.
“Banks are on the front line
in the war against money laundering
and terrorist financing, so to successfully
stay ahead of these type perpetrators,
their risk management solutions must
extend across the enterprise,” said
Thomas G. Gordon, senior vice president,
Risk Solutions Group, Carreker. “Integrating
SWIFT message formats into our AML
solutions enables our clients to
implement enterprise-level fraud
detection capabilities that meet
the anti-money laundering and counter
financing for terrorism (CFT) requirements
of jurisdictions around the world,
greatly improving their ability to
quickly identify suspicious activities.”
CORE AML Filter compares transaction
and account data against negative
and positive lists, applying advanced
detection techniques that minimize
false positives while identifying
suspicious activity in both batch
and real time. The software can take
data from across the enterprise and
compare it against industry or bank-specific
lists. These lists can be updated
and processed automatically against
existing databases with alerts issued
or exempted as needed.
CORE Fraud Manager AML is based
on an advanced transaction monitoring
system that provides a flexible platform
for integrating a full range of risk
and compliance applications. The
system analyzes and captures data
across products, accounts, channels
and business unit boundaries. By
analyzing and comparing information
across all available channels and
data types, Fraud Manager identifies
suspicious activity with maximum
efficiency.
“We welcome Carreker as a
Registered Partner. Their global
reach combined with their range of
risk detection solutions make them
a natural fit for our Partner framework,” said
Joel Ludvigsen, Director Partner
Solutions, SWIFT. “Our message
standards add a powerful component
to Carreker’s AML solutions
and allow them to offer their customers
the latest innovations in the area
of enterprise-wide risk management
solutions.”
J.D. (Denny) Carreker, chairman
and CEO, Carreker, said. "By expanding
the functionality of our AML solutions
with SWIFT's messaging formats, we
have boosted the ability of banks
of all sizes to proactively combat
money laundering while meeting greater
regulatory requirements and protecting
their shareholder value and reputations.
We believe this further solidifies
our position as the preeminent global
provider of risk management solutions."
About Carreker Corporation
Carreker Corporation improves earnings
for financial institutions around
the world. The Company’s
integrated consulting and software
solutions are designed to increase
clients’ revenues and reduce
their expenses, while improving
security and increasing the value
of their customer relationships.
Carreker provides products and
services to more than 250 clients
in the Americas, Europe, Australia,
Asia, New Zealand, South Africa,
South America, Mexico, and the
Caribbean. Clients include the
full range of community, regional
and large banks, among them more
than 75 of the largest 100 banks
in the United States. Headquartered
in Dallas, Texas since 1978, Carreker
Corporation has offices in London
and Sydney. For more information,
visit www.carreker.com.
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